
Lamborghini, Porsche, Lotus, Aston Martin – these performance-oriented brands have something in common.
Not so long ago, it would have been almost unheard of for them to build sport utility vehicles. But today, SUVs represent some of the most important segments for these high-end automakers.
Now, McLaren Automotive has officially declared its intention to join this all-important and crowded segment.
Rumours of this happening have been swirling for some time, but the automaker confirmed it officially on Sept. 16.
The plan to build SUVs is part of a £500-million ($934 million Canadian) investment program from McLaren Automotive shareholder L’IMAD, a sovereign investor of the Government of Abu Dhabi.
The money, the company said, will support automotive manufacturing in the United Kingdom.
“Over the past 20 months, L’IMAD has worked closely with McLaren Automotive’s management team, supporting the business in sharpening its strategic direction and positioning itself for long-term growth,” L’IMAD managing director and group CEO Jassem Al Zaabi said in a news release.
“This investment reflects our confidence in its potential and our commitment to backing the business through its next chapter, building on the heritage, engineering excellence, and distinctive brand that has defined McLaren for more than six decades.”
The investment is expected to support 1,000 new direct and indirect jobs by 2032, as well as create new opportunities for current McLaren employees, the company said.
McLaren plans to enter new segments
McLaren said it has a goal of maximizing brand value, desirability and client loyalty, and will enter new vehicle categories, including the launch of the new performance SUV.
Additionally, the company will, for the first time in its history, design and build its future powertrains in-house. This includes two new engines and transmissions.
The company will also expand operations at the McLaren Production Centre in Woking and its carbon-fibre manufacturing and research facility in South Yorkshire at the McLaren Composites Technology Centre.
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